Home / Business (page 18)

Business

SA rand firms

The rand was slightly firmer early yesterday, as investors awaited a speech on trade by US President Donald Trump amid his country’s long-running tariff war with China. At 0728 GMT, the rand traded at R14,8520 versus the dollar, around 0,2 percent stronger than its previous close. Government bonds were also …

Read More »

Gold prices ease

Gold prices eased yesterday as expectations of positive trade talks between the United States and China bolstered risk appetite, while investors booked profits. Spot gold slipped 0,2 percent to US$1 453 per ounce, extending declines into a fourth straight session. US gold futures also dropped 0,2 percent to US$1 454 …

Read More »

Oil loses ground

US oil prices fell for a second day yesterday, weighed down by uncertainty over whether US-China trade talks are making much progress, while higher Saudi Arabian crude output reinforced concerns about oversupply. US West Texas Intermediate (WTI) crude was down 18c, or 0,3 percent, at US$56,68 a barrel. The contract …

Read More »

Mining professionals for Rwanda

Business Reporter Rwanda is keen to lure Zimbabwean mining professionals to cover a skills gap in that country that could be detrimental to the East African country’s realisation of its mining goals. The Rwandese extended the human capital appeal to Mines and Mining Development Deputy Minister Polite Kambamura who was …

Read More »

Natfoods gears for critical maize imports

Panashe Chikonyora Zimbabwe Stock Exchange-listed conglomerate, National Foods Holdings Limited (Natfoods), has initiated an importation programme for both white and yellow maize to cover the expected maize deficit in the first half of 2020, according to a trading update the company released on Monday. In July this year, President Mnangagwa …

Read More »

PPC anticipates sharp decline in business

Michael Tome Listed cement producer, Pretoria Portland Cement (PPC), says it anticipates a sharp decline in business by up to 20 percent for the six months ending September 30, 2019, compared to R1,039 billion realised in the similar period in 2018. According to the company that will release its half …

Read More »

Ruling reserved in Shah, Equity case

Business Reporter The High Court has reserved judgment on an urgent chamber application in which businessman, Jayesh Shah’s British Virgin Islands incorporated — Al Shams Global — sought the cancellation of a replacement title deed to a piece of land owned by local firm, Equity Properties. Al Shams is also …

Read More »

Zim taps into India’s US$5tn boom

Ishemunyoro Chingwere Zimbabwe seeks to tap into India’s envisaged economic boom as espoused by the South Asian economic powerhouse’s Vision 2025 through which it is envisioning a US$5 trillion economy. The current size of the Indian economy is estimated at about US$2,7 trillion. India’s vision is underpinned on a boom …

Read More »

Foreigners tussle in nasty turf wars

BY MISHMA CHAKANYUKA CONFEDERATION of Zimbabwe Retailers (CZR) president, Denford Mutashu says fights for business control among foreign companies in Zimbabwe was affecting investment prospects in the retail sector. “It has come to our attention that there is a section of foreign-owned businesses that has since ignored its primary mandate …

Read More »

RBZ seeks to raise $300m through TBs

BY TAFADZWA MHLANGA GOVERNMENT is seeking to raise another $300 million through Treasury Bills (TBs) to finance its programmes, a month after issuing a sovereign paper with the same amount. In a statement yesterday, the Reserve Bank of Zimbabwe (RBZ) invited financial institutions to subscribe to TBs with half-year maturity …

Read More »